New Remittix Whitepaper is out -- RTX utility may be the most important announcement before TGE
Remittix has released its new whitepaper, and overall I think it presents a much clearer and more mature vision for the ecosystem. PayFi, Wallet, Markets and Earn working together, with RTX intended to become the native asset connecting them.
However, there is one part I think everyone willing to bet on this project should be watching very carefully. What is the token utility?
According to the tokenomics, RTX has a maximum supply of 1.5 billion tokens, with 50% allocated to the presale. That's a big proportion of the entire supply potentially entering the first moments after launch. This creates an obvious risk around TGE. Presale investors have very different entry prices and bonuses, and some will inevitably want to take profits. Even if Remittix succeeds as a business, significant early selling could put pressure on RTX if there isn't enough new demand to absorb that supply.
This is why I think the upcoming announcement regarding RTX utility could be one of the most important announcements before/around launch. Ideally, RTX shouldn't simply be a token attached to a successful PayFi application. There needs to be a strong economic connection between Remittix usage and RTX demand.
For example, RTX could potentially provide reduced PayFi fees, better exchange rates or other discounts; staking could unlock higher platform tiers or benefits; Markets and Earn could incorporate RTX incentives; platform revenues could finance RTX buybacks; and a buyback-and-burn mechanism could permanently reduce supply over time. This would be great!
Imagine Remittix eventually processes billions of dollars in crypto-to-fiat payments. That's fantastic for Remittix but if users can access everything using USDC, ETH, BTC, etc. without ever needing RTX, then PayFi success doesn't necessarily translate into RTX price appreciation. Conversely, if growing PayFi/Markets/Earn activity creates demand for RTX, the ecosystem could gradually absorb the dilution created by the large presale allocation. This is why I'm not particularly worried about the 1.5B maximum supply itself. What matters is the relationship between supply entering the market and demand being created by the ecosystem.
The new whitepaper says RTX utility will be introduced across PayFi, Markets and Earn as those mechanisms are formally announced. That's the announcement I'll be watching most closely.
The technology can work. PayFi can gain users. Remittix can become a successful platform. But for token holders, if Remittix succeeds, how exactly does RTX capture that success?
What do you all think?